Tag: Article

Inspiring Conversations with Jaylyn Palmer of Xevant

Jaylyn, we appreciate you taking the time to share your story with us today. Where does your story begin?
I’d say my career path is somewhat unconventional; I don’t have a business degree and spent some time without clear direction. I certainly never expected to be in the position that I am – as Chief of Staff helping to strategize and run a business. I started in office management and support roles and then spent a short time running a marketing department. That role quickly made me realize I prefer a holistic approach to business

Xevant launches GLP-1 Dashboard to tackle rising therapy costs

Pharmacy benefits industry analytics provider Xevant has launched GLP-1 Dashboard, a data-driven insights solution designed to help PBMs and consultants manage the rising costs associated with GLP-1 therapies.

“Xevant’s GLP-1 Dashboard delivers a comprehensive view into plan-paid costs, utilization metrics, and member trends. By breaking down plan costs per prescription, identifying top drugs by spend, and providing cost metrics by channel, it empowers pharmacy benefits stakeholders to make data-driven decisions,” Brandon Newman, Xevant’s CEO, told Access Insider.

PBMs’ Influence on Drug Pricing and the Healthcare Economy

In this episode of Healthcare Americana, host Christopher Habig interviews the VP of PBM Practice at Xevant, Shane Garduno, an expert in pharmacy benefit management (PBM). They discuss the role of PBMs in the healthcare industry and how they influence drug pricing. Shane explains that PBMs act as pharmacy insurance, handling coverage information, copays, deductibles, and prior authorizations. They also work with employers and health plans to control drug costs and implement cost-saving programs. PBMs negotiate discounts off the price of drugs and work with manufacturers to secure rebate dollars. Shane emphasizes the importance of transparency in PBM pricing and advises employers to negotiate for 100% of rebates and deeper discounts.

GLP-1 costs drive employers to specialty benefits vendors

The weight loss craze fueled by highly effective new medicines has forced a big dilemma onto employers: Cover these costly blockbuster drugs and bank on positive outcomes, or withhold paying for the hotly desired treatments for workers and risk backlash.

Expert Discusses PBM Transparency, Balancing Competition, and Real-Time Optimization

Brandon Newman, the founder and CEO of Xevant, emphasizes the importance of balanced regulation and transparency in the pharmacy industry. He cautions that proposed legislation could stifle competition and innovation if not carefully crafted, potentially leading to big PBMs exiting certain contracts. Newman argues that simply setting prices through government mandates does not necessarily achieve the desired outcomes, as manufacturers may raise prices elsewhere to compensate. Instead, he advocates for incentivizing positive behaviors and providing stakeholders, including pharmacists and pharmacies, with real-time access to claims data, rebates, and cost-saving opportunities.

Xevant: Cost-Effective Solutions in Pharmacy Benefits

The pharmaceutical benefits sector is notoriously complex yet pivotal in providing accessible and effective healthcare for millions. Characterized by a vast network of drug manufacturers, insurers, pharmacies, and patients, this intricate ecosystem comes with an overwhelming myriad of variables. Often resulting in opaque pricing structures, burdensome administrative processes, and inflated consumer costs, making it a significant challenge for healthcare providers and patients alike.

Expert Discusses Navigating Complexities of PBM Regulations

Brandon Newman, founder and CEO of Xevant, delves into the complex landscape of pharmacy benefits managers (PBMs) and the regulatory environment surrounding the industry. Newman highlights the outsized influence of the “big 3” PBMs, which control over 80% of pharmacy utilization, and how their practices impact the cost and access for both patients and pharmacies. He discusses the key legislative efforts at the state and federal levels, focusing on the push for greater transparency in reimbursement rates, business practices, and fees. He also emphasizes the role of innovative, smaller PBMs in offering unique value propositions, such as high-service models and a focus on overall therapy costs, as a counterbalance to the market dominance of the larger players.

People Spent the Most Money on These 25 Prescription Drugs Last Year

U.S. spending on prescription drugs amassed $722 billion in 2023, a nearly 14% uptick from 2022, marking the largest increase in spending in 20 years, according to a new study. The diabetes and weight loss medication semaglutide (Ozempic, Wegovy, and Rybelsus) topped the list. While drug prices did rise, the data and experts point to other, more significant factors for the national increase in spending.